Laserfiche WebLink
pledged revenues and property; and <br /> d. take any other appropriate action. <br /> The CWCB shall provide written notice to the BORROWER of any such default and shall give <br /> the BORROWER an opportunity to cure within sixty (6o) days of receipt of such notice. All <br /> remedies described herein may be simultaneously or selectively and successively enforced. <br /> The CWCB may enforce the provisions of this CONTRACT at its option without regard to <br /> prior waivers of previous defaults by the BORROWER, through judicial proceedings to <br /> require specific performance of this CONTRACT, or by such other proceedings in law or <br /> equity as may be deemed necessary by the CWCB to ensure compliance with provisions of <br /> this CONTRACT and the laws and regulations under which this CONTRACT is executed. The <br /> CWCB's exercise of any or all of the remedies described herein shall not relieve the <br /> BORROWER of any of its duties and obligations under this CONTRACT. <br /> 16. Insurance. <br /> a. Upon execution of this CONTRACT and continuing until complete repayment of the <br /> loan is made to the CWCB, the BORROWER shall maintain commercial general liability <br /> insurance, with a company that has an AM Best rating of A-VIII or better written on an <br /> Insurance Services Office occurrence form (Acord25), with minimum limits of$1,000,000 <br /> for each occurrence and $1,000,000 general aggregate, including products/completed <br /> operations aggregate and personal injury. <br /> b. Prior to the disbursement of any loan funds, the BORROWER shall provide the CWCB <br /> with evidence of said insurance and shall provide the CWCB with documentation of <br /> renewals of said insurance, by listing CWCB as a certificate holder. <br /> c. At any time, during the term of this CONTRACT and upon request by CWCB, <br /> BORROWER shall supply CWCB with evidence satisfactory to CWCB of compliance of the <br /> insurance requirements. <br /> d. The BORROWER shall require the construction contractor and any subcontractors, <br /> meaning any third party engaged by BORROWER to aid in the performance of the PROJECT, <br /> to maintain the following insurance coverage, in the limits shown, during the term of their <br /> contracts and until the PROJECT is complete. CWCB may request proof of construction <br /> contractor's and subcontractor's insurance during the term of the PROJECT. <br /> i. General liability insurance with minimum limits of $1,000,00o combined single <br /> limit for each occurrence and $1,000,000 general aggregate. This insurance coverage <br /> shall include products/completed operations and bodily injury/property damage. <br /> ii. Workers' compensation insurance as required by state statute, and employers' <br /> liability insurance covering all Contractor or Subcontractor employees acting within <br /> the course and scope of their employment. <br /> iii. Automobile liability insurance covering any auto (including owned, hired and <br /> Page 10 of i6 <br />